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Shares of International Business Machines Corp. (NYSE: IBM) were down more than 6% in premarket hours after the tech giant announced a huge miss on quarterly earnings. Total revenues slid to $22.4 billion, down from $23.4 billion in the same quarter last year. On an adjusted basis, IBM earned $3.68 per share, far from the consensus expectations of $4.31. Finally, the company announced that it will pay GlobalFoundries $1.5 billion to take control of its semiconductor business. IBM had unsuccessfully attempted to sell the unit.